March 2014

Minister of Commerce, Industry, and Tourism, Santiago Rojas Arroyo, upheld that average growth maintained itself this year, like the three previous years. Colombia will reach the goal of four million international travelers, keeping in mind that currently the completed percentage is 93%.

Colombia will embark on a multi-billion dollar package of infrastructure investments next month in a bid to unleash an economic growth spurt, the country’s finance minister has told Emerging Markets. Mauricio Cardenas said that the first package of slightly more than $8bn in 12 roadway projects would be offered in April. Two other packages, one in the second half of this year and another in 2015, will include a similar number of projects and require similar investments.

Brazilian investment bank BTG Pactual is strengthening its presence in Latin America, paving the way for broader banking operations in Chile and Colombia. In the next few weeks, BTG Pactual will apply for a banking license in Colombia, where it already operates as a broker-dealer, said Mateus Carneiro, a partner at BTG Pactual responsible for integration in Latin America. It also expects approval from Chilean authorities to operate a local bank before the second half of the year, he said.

Sacyr expects to invest around $1.5 billion in road projects in Colombia, the CEO of the Spanish construction company, Manuel Manrique, said at the end of a visit to the South American country. Sacyr views Colombia as a country that offers opportunities and is a "key to its international growth process," Manrique said in a statement. "We see Colombia as a totally attractive country for foreign investment and strongly believe that our participation in the different infrastructure sectors will bring innovation, development and the best practices to the market," the Sacyr CEO said.

… While United States’ investors have been singing Colombia’s praises for several years, they’ve been primarily focused on two things: the country’s improved security situation and opportunities in energy and mining. But Colombia is also earning a reputation for sound economic policy ­– one that’s helped it weather global economic turbulence better than many of its neighbors.

In a bid to increase its competitiveness, which has been undermined by the rising value of the peso, Colombia has set aside $8 billion USD to overhaul its road infrastructure. Once completed, the infrastructure program is expected to add 0.7% to Colombia’s GDP, Finance Minister Mauricio Cardenas was quoted as saying in an Emerging Markets report.